Giant UK Green Investment Bank
The UK Government plans to launch a £1,000 billion ($1.44 Trillion) Green Investment Bank today. The Queen’s Speech, setting out the legislation for the next parliament, will include the Green Bank, which will be massively upgraded from the puny £2bn affair that the previous Labour government had been planning. It will be part of the Energy Security and Green Economy Bill.
There is expected to be a government-backed Green bond issuance to kick-start the anticipated programmes, focusing on investments with stable revenue schemes, such as the Feed-in tarrif for home-produced electricity.
Several senior Executives are vying to run the new bank, which will have a capitalisation of up to £20 billion, injected by the government at a rate of £2 billion per year. It will then leverage that capital to gain up to fifty times that funding from the private sector. The European Investment Bank operates on the same principle
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